FI-354 Posttest Questions with Detailed Verified Answers

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FI-354 Posttest Questions with Detailed
Verified Answers

Question: Finance is the business function that involves managing

Ans✅ ✅: money.

Question: The goals of the finance function are to ensure profitability
and

Ans✅ ✅: reduce risks.

Question: Accounting is distinct from finance because its main focus is
on

Ans✅ ✅: recordkeeping activities.

Question: The administration of assets refers to decisions about

Ans✅ ✅: investments.

Question: Decisions about financing refer to the

Ans✅ ✅: acquisition of funds.

Question: The finance function ensures that the company's financial
goals are

Ans✅ ✅: in line with organizational priorities.

Question: How does the finance function relate to company spending?

Ans✅ ✅: It plans and controls spending.

Question: Money the business owes is known as

Ans✅ ✅: accounts payable.